Bexley North Property Market Update 2nd Half of 2021

In Q3 2021, Bexley North recorded a median house price of $1,640,000, and a median unit price of $650,000. This represents annual (Q3 2020 – Q3 2021) median price growth of 31.5% for houses and a price softening of -3.6% for units. Between Q3 2020 – Q3 2021 total sales slowed for houses, down by -32.7% (to 37 sales), and picked up for units by 68.4% (to 64 sales). Now is an ideal to sell your house in Bexley North, as price growth and lower sales figures indicate an undersupplied market, and an opportune time for first home buyers looking to enter the unit market as it is now more affordable.

Average vendor discounts between Q3 2020 and Q3 2021 have swung to an even higher premium of 7.6% and remained relatively stable for units at 1.0%. Market conditions in Bexley North favour sellers, where buyers are willing to negotiate above the initial listing price.

In September 2021, unit rental yields in Bexley North were recorded at 3.5%. In the 12 months to Q3 2021, the median unit rental price remained unchanged at $420 per week, while average days on the market declined by -21.2% (to 26 days). The Bexley North unit rental market remains resilient and stronger than the housing rental market now.

1-bedroom units have provided investors with +5.6% rental growth annually, with a median rent of $380 per week.

Also in September 2021, Bexley North recorded a vacancy rate of 2.4%, below Bayside LGA (3.3%) and Sydney Metro (2.7%). Vacancy rates in Bexley North have trended downwards since June 2021 and hit a historical low in September 2021, remaining below the Real Estate Institute of Australia’s healthy benchmark of 3.0% even during a lockdown. There is resilient rental demand and investors can be confident of a conducive investment environment in Bexley North.